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Accounting for VAT Compliance

It is important for all taxable person to maintain books of accounts under UAE VAT law. In addition to that the company needs additional documents such as annual accounts, credit notes, debit notes, VAT Ledger, general ledger, invoice issued, invoice received, purchase day book etc. According to UAE VAT law the books of accounts and records are to be maintained for five years.

SME Business Management Consultancy have some common method for dealing with VAT Compliance:

  • Compliance calendar.
  • Invoicing.
  • Non-deductible VAT.
  • Reverse charge VAT.
  • Annual return of trading details (RTDs).
  • Revenue verification checks.
  • Compliance process manual.
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